Accountancy and Law Subject Guide: Standards

International accounting standards

International Financial Reporting Standards (IFRS)

An international accounting standard issued by the International Accounting Standards Board (IASB).

 Use of IFRS Standards by jurisdiction

As of 2020 September, there are over 160 jurisdictions worldwide that use the IFRS Standards including Hong Kong SAR. More details about how IFRS Standards are applied in each jurisdiction can be found in the above IFRS webpage.

 Deloitte IAS Plus

Provides an extensive collection of news and resources about International Financial Reporting Standards (IFRS), the International Accounting Standards Board (IASB), and international accounting and auditing developments.

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Hong Kong accounting standards

Hong Kong Institute of Certified Public Accountants (HKCPA)

Hong Kong is converged with IFRS Standards. More information about the accounting standards in Hong Kong can be found in HKCPA Members' Handbook Volume II on Financial Reporting Standards.

HKCPA Members' Handbook Volume II on Financial Reporting Standards

 Mainland China accounting standards

China Accounting Standards (CAS) 企业会计准则

The China Accounting Standards (CAS) is drafted by the China Accounting Standards Committee (会计准则委员会) for business enterprises. The committee also participates in the research of international accounting, accounting exchanges, and corporates with foreign parties.

CAS Plus

Created and maintained by Deloitte to provide accounting information in China. This free website contains accounting news and accounting standards in China.

《企业会计准则第18号 - 所得税》实务指南

Published by Deloitte in 2007 November, aimed to explain related concepts from the "Accounting Standards for Enterprises No.18–Income Tax" published by the Ministry of Finance of the PRC in 2006 through cases and practices. Specific accounting principles and methods of income tax accounting are included.

The latest 《企业会计准则第》(Accounting Standards for Enterprise) can be found on the CASC website.

 The print version of Accounting Standards for Enterprise《企业会计准则》

Others

Generally Accepted Accounting Principles (GAAP)

GAAP is a codification issued by the Financial Accounting Standards Board (FASB) and is used in the United States where public companies must follow when compiling financial statements.

 Basic view of GAAP

FASB provides free access to a basic view of the GAAP codification.

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Financial Reporting Standard (FRS)

The Financial Reporting Standard (FRS) is set by the Financial Reporting Council (FRC) in the United Kingdom. The accounting standards include FRSs 100, 101, 102, 103, 104, and 105, which replaced the old UK GAAP in 2015. The new FRS is also referred to as the "New UK GAAP".

 UK Accounting Plus

Provided by Deloitte, information on UK Accounting, Reporting & Corporate Governance.

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